How You Stack Up
By Harry J. Friedman
Founder/CEO, The Friedman Group
No matter how good we are, we can always get better. What can we do as salespeople to evaluate our performance? What criteria should we judge ourselves against?
One way of evaluating your performance is to compare yourself to your fellow salespeople. You might be at the top in your store, but how do your rate against your competition? These are the people you need to be able to out-perform. Even though you're in direct competition with your coworkers for sales, you are also competing with the store down the block.
Shopping the competition is important in many ways. Do you know what the competition is saying about your store? What types of merchandise are they carrying, and how does it compare to your pricing? What are their policies on returns, exchanges, credit, etc.? How is their service? You know, I've said this before and this won't be the last time I say it, but knowledge is power. You don't have any idea what is happening down the block, but your customers often come into your store with answers to all of these questions. This puts you at a great disadvantage.
On the other hand, taking the time to find out what is happening with your competitors will answer all of those questions. In addition, you will be able to sell much more effectively. Think of the possibilities! You will be able to switch customers more effectively by knowing what's available. You will have a better handle on the trends within your industry allowing you to be the expert your customers expect you to be. You will know how your pricing compares, and as a result, you will know how to handle a price objection. You may also get ideas for more effective displays and promotions, too.
Most successful salespeople shop their competition to compare merchandise, prices and special promotions. Why not visit these other stores to compare customer service and salesmanship? Often, the merchandise and/or the price may not vary much from store to store. You make the difference. You make your store more successful. Don't limit yourself to visiting stores only in your industry. Shopping different types stores might be enlightening.
There is no question that shopping your competition gives you the edge over other salespeople. Now, what else do you look for in a good salesperson? Friendliness or product knowledge, although important, are not the real determining factors. The bottom line is how well one has mastered certain selling behaviors. For example, how effective are you at opening the sale and getting past the customer's initial resistance? I have provided you with a Sales Coaching Report (Figure A), a list of questions you can ask yourself after each sale. Take the time. Judge your own presentation, and analyze where you might concentrate on improving. Another person's perspective of your performance could help you be even more objective about your own skills.
After you have taken an in-depth look at your own sales abilities, develop an action plan to see how you measure up against the competition. Determine which stores you should visit, and commit yourself to checking out at least one each week. The more you visit, the more you can learn. You'll be looking not only for good techniques that you can put to use yourself, but also for poor techniques that you'll avoid using. Use the Sales Coaching Report to help you compare each presentation equally. Challenge each salesperson to handle different objections, not just the ever popular price objection. Make personal notes during the week when you encounter particular problems with your own customers. Then, recreate a similar situation with a salesperson at your competitor's store. See how someone else might handle the same dilemma.
Have fun with this project. It doesn't have to be a chore. After you have visited several stores, you may want to make repeat visits to speak with different salespeople. If you're embarrassed that someone might recognize you, disguise yourself. Use your imagination!
Share the results from your Sales Coaching Reports with the entire staff at your store. It can be very helpful to encourage them to use the same form. Perhaps one sales meeting each month could be devoted to reviewing the reports accumulated by you and your coworkers. The entire store can learn from these experiences. The more you talk about selling, the better you become at selling.